KDB Bank Europe Ltd. (KDBE), a subsidiary of the South Korean Korea Development Bank, has been present on the Hungarian financial market since 1990. KDBE
President&CEO, Min In Hwan tells Diplomacy&Trade how the bank developed over these three decades and the
services it offers its clients today.
Explaining how many of the bank’s original objectives have been achieved, he stresses that “30 years have passed but KDB Bank Europe Ltd. still has a lot of things to do. In 2019, South Korea became the largest foreign investing
country in Hungary, and a lot of Korean manufacturers expanded their businesses to central-eastern Europe, including Hungary.
As Korea’s leading policy finance institution, the Korea Development Bank – and KDB Bank Europe Ltd. – has provided financial services to companies based in this region of Europe.
KDBE is well known as a corporate banking specialized institution. The President&CEO highlights that KDB is very proud of being the most competitive when it comes to corporate banking and investment banking in Korea.
“Based on the mother company’s specialties, KDBE offers a variety of financial products such as corporate financing, FX, financial derivatives, etc. to Korean companies launching their businesses in central-eastern Europe. From the customer’s viewpoint, KDBE is very supportive of the objectives they wish to achieve.”
The impact of the epidemic
The current pandemic has hit almost all sectors of the economy heavily. Min In Hwan points out that the COVID-19 epidemic has brought a fundamental paradigm shift in both the global economy and financial environment. Hungary is also heavily influenced by the COVID-19 pandemic as the proportion of the automotive industry and tourism is high in its economy. “Despite the financial market volatility, e.g. exchange rate, interest rate, many companies are exposed to the risk. To support customers with such difficulties, KDB Bank Europe Ltd. has been active in its role
as a policy finance institution. Recently, the Hungarian government has started providing support for firms related to exports and tourism, and KDBE has been taking part in this government support program for Hungary-based companies. Responding to the recent trends of conducting business online, we have been upgrading our IT system,” he says.
Come to KDBE!
KDB Bank Europe Ltd. offers premium products, like FX hedge tools and treasury services, to its clients. The President&CEO reminds that the Korea Development Bank is the No.1 derivative house in Korea. “I also worked as a broker in dealing rooms for more than twenty years, and KDBE has a number of highly qualified Korean staff members
ready to provide the variety of financial products that clients need. Please, feel free to knock on the door of KDBE at any time!”
For long-term relationships
For KDBE – and its customers – it means a lot that the Korean Development Bank is behind the financial institution. As Min In Hwan stresses, KDB has been the backbone of the development of the economy and the financial industry in Korea. “As a policy finance institution, KDB places emphasis on long-term relationships as a priority rather than seeking short-term profits. It is highly expected that there will be a lot of areas where KDBE can support in the central-eastern European corporate business markets. KDBE will do its best to play an important role as a faithful business partner,” the President&CEO concludes.
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